Why Have a Sales Process?

Sales Management can read ad nauseum about creating a Sales Process and Implementing one. I have helped develop and worked with companies that say they have a Sales Process. For the Sales process to be effective, it must be Customer focused. This means understanding and fulfilling the customers needs, wants, pains, fears, and desires with your product or services must be the foremost thought and result in developing the process. The Process is a roadmap, and not a railroad track. You must allow for salespeople’s creativity, and style to reach the end goal. It will not be the same, but there are critical points along the way that must be done. It is important to develop Different Versions of the Sales Process for Different Target Customers and understand the motivations and concerns of the prospects. Don’t waste company money on a CRM, until you have clearly defined your Sales Process. Developing a clear concise Sales Process can have a dramatic positive effect in reducing the Sales Cycle and closing more deals. The key elements in a Sales Process are as follows:

Method for creating and handling Leads

Identifying and Qualifying the leads into prospects

Prospect Development –

Negotiating and Closing the Sale

Customer Retention, Follow up Procedures

Following are points to consider under each element of the Sales Process. detailed

What is the main source of Getting Leads? How many leads are needed to generate the revenue goal from the different Lead Generators?

Trade Shows

Networking Events

Social Media

E-Newsletters and Direct Mail

Web Site / Blogging

Customer Referrals.

Cold Calling – from lists – chambers, industries, etc.

Identifying and Qualifying Leads

Who will handle the lead?

What critical questions need to be asked to qualify the lead?

What possible needs must be identified?

How fast do we follow up after initial contact?

What are acceptable next steps for the lead? Examples:

Appointment

Sending Information

Demonstration of product

Qualified Prospect Development – Depending upon the business, this can take several meetings. Start the relationship development and understanding the situation. Identify the decision-making process, and the motivators to buy. At this juncture, what is the percent that become customers, and how many will you need to achieve the revenue goal.

What questions and connections do you have with the prospect that will help you establish credibility and a relationship?

What questions or information is needed to be asked for Management and Internal Staff to understand the situation? Examples:

What is the possible revenue to be generated?

Are the discussions with the decision maker or an influencer of the decision?

Other than price, how and when will the final decision be made?

Who else is involved in the decision?

What problem, fear, challenge, opportunity, or aspiration was identified?

Has there been a quantification of the problem?

How much time is it taking them?

How much money is it costing them?

What kind of trouble have they gotten into or foresee if they do not resolve this situation?

Is there an established vendor and has the risk of change to a new vendor been addressed?

Do we understand what will inhibit them from moving away from the vendor?

Have we agreed to a way to mitigate the risk?

Do they perceive it as a risk?

What other obstacles / objections are there in doing business with our company?

What other competitors are being evaluated?

Are there specific requirements for the solution?

Price

Job Completion

Payment terms

Security Issues

Technology and Regulations

What is the most convenient and preferable way to communicate with the prospect and company?

Is there any flexibility in these requirements?

What possible options were discussed and was one more acceptable than another?

What is the value proposition, and key non-price differentiator vs. the competition?

Does the prospect agree, or have they verified the benefits of doing business with you?

Do we have to somehow prove the benefits before the sale is made?

What are the next steps in moving forward and when? Is there a mutually agreed upon Product / Service Evaluation Plan that proves the company’s capabilities?

Demonstration

Proposal

Visit with Technical Experts

Tour of Facility

Visit of Higher Level Management

Are there important follow-ups needed before the next meeting?

Third Party referrals

Support Materials or articles supporting proposed solution.

Other

Negotiation and Close

What obstacles will stop from closing the deal?

Is the proposal presented as a Win-Win?

Are we very clear on the value that the customer will receive?

What is the least we expect from this proposal?

What is the best we can expect from the proposal?

Do we understand and have we addressed all critical business issues?

Can we quantify the value to be gained by the client?

Follow Up and Repeat Business

Who are the responsible parties for following up with the customer?

After the contract is completed, what plans are there to be getting additional business?

How will we handle the customer in the future?

How frequently will the customer need to be visited and / or contacted to keep them as a customer?

When and how do I ask for a customer referral?

So you may now be totally overwhelmed with the information needed to develop a Sales Process. Your best and first source is to solicit your Sales people in helping develop the Sales Process. It is truly amazing what you will hear from them. However, in the end you will get better buy in if they participate in developing this all important process.